While the widespread use of technology and the internet has generated numerous advantages for law firms and their clients, it also has enabled employees and outsiders alike to perpetrate frauds that can continue for months without detection, and result in significant losses. Employee theft and internet scams represent expanding risks for law firms and their clients. In its 2014 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners found the median duration of employee frauds was 18 months before detection; the median loss from all such incidents at professional service firms was $180,000. Read More
